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GC Asia
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Market looks ahead to Jackson Hole for taper talk
The Federal Reserve signalled that tapering is near in its Wednesday meeting, describing how the US economy has made progress and employment continues to strengthen. ABS pros are expecting the Jackson Hole Summit in August to be a natural point to begin tapering and pull back MBS purchases at a faster rate than Treasurys.
29 Jul 2021 -
Shell pioneers carbon credit ABS market to offset emissions
Royal Dutch Shell and London asset manager Tramontana have created a carbon credit securitization product, forming a new asset class aimed at optimising the offsetting of carbon dioxide emissions. Tom Brown reports.
29 Jul 2021 -
Affirm taps ABS demand with non-revolver
Affirm priced its buy now pay later ABS on Tuesday afternoon. The revolving transaction is designed to provide Affirm with the flexibility to fund shorter term instalment loans.
28 Jul 2021 -
Market minds Powell's language as Fed meeting kicks off
The Federal Reserve kicked off its two-day policy meeting on Tuesday, with the officials deeply divided on when to make the move to tapering asset purchases. With no dot plot projections expected this time, sources are keeping a close eye on what Fed chairman Jerome Powell says, looking for hints about the central bank’s plans.
27 Jul 2021 -
Football securitization closed despite pandemic chaos
A UK football club securitization has closed that offers investors exposure to future ticket sales. But sports securitizations, almost non-existent after the 2008 global financial crisis, have assumed a new, higher level risk in the eyes of many following the pandemic.
27 Jul 2021 -
Castlelake ABS refi swoops lower than ever despite aviation pricing concerns
Castlelake beat its own record with a refinancing of its 2017-1R transaction, achieving the lowest coupon out of all of its deals since it debuted in the ABS market in 2014. The pricing highlighted the insatiable demand for aviation bonds, even as some voiced concerns over valuations in the esoteric ABS market overall.
26 Jul 2021 -
Affirm promotes two executives following growth spurt
Buy now, pay later company Affirm has appointed Geoff Kott as chief revenue officer, a newly created role. The move comes as Affirm prepares an ABS for the third time this year, establishing its foothold not only as a major player in point of sale and marketplace loan issuer securitization.
22 Jul 2021 -
All aboard as market flocks to container ABS
Container ABS are becoming a bigger presence in the securitization market, thanks to a boost in demand for cargo shipping. Investors are leaping at deals from a sector that offers higher returns than other fixed income assets, including other types of esoteric ABS.
21 Jul 2021 -
World Bank issues Sofr cat bond for Jamaica storm risk
World Bank has raised $185m in a catastrophe bond to provide financial protection to Jamaica from the economic damage of tropical storms for the next three years. It is among the first cat bonds to be linked to the Secured Overnight Financing Rate.
21 Jul 2021 -
Trafigura returns to ABS market after three year break
Trafigura has launched its sixth securitization from its TFS programme, the largest trade receivables securitization programme in the world, marking a return to the market for the oil trader which pioneered inventory ABS.
20 Jul 2021
ABS
Every Friday, we break down the biggest themes and takeaways from GlobalCapital’s weekly reporting to give you a look at what is happening across consumer and esoteric ABS, RMBS, CMBS and CLOs.
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